Ben Way, expat entrepreneur

Ben Way has been an entrepreneur since his teens, and made millions of pounds
of the process. Now, he’s turning his attention to something rather more
magnanimous - helping fellow British businessmen settle into the US.

Expat entrepreneur Ben Way: 'If you grow up in the media and are very successful, you become very complacent'

If you’ve ever felt that you should have a done a little more with your youth, then you’re probably better off not reading about Ben Way. The British entrepreneur started his first business, a computer consultancy, on his 15th birthday, and by the time he was 20 was estimated to have a fortune of around £18.3 million.

Anyone feeling a little resentful at this point will be immediately cheered up by the fact that the same year the dot.com prodigy made it onto the under-thirties Sunday Times Rich List - just under Robbie Williams, in fact - he entered a dispute with investors, and waved goodbye to his paper fortune.

But that's not the end of the story. Less than ten years after losing his money, Way has climbed his way back up the entrepreneurial ladder, and now has his fingers in what seems to be an improbably large amount of virtual pies. From the restaurant booking serviceGo dine to his delivery service SendSocial, Way has started up internet company after internet company. So the first question to ask him when we catch up one afternoon seems obvious. Is he someone who is easily bored?

“Saying that I’m easily bored might be a fair analysis,” Way says evenly. “But it’s not as simple as that - it’s the way my business works. I learnt early on to do what you’re good at. I’m shit at a lot of things. I could write you a list. But I am good at starting projects; putting the team and the skillset needed to manage it together, and then letting other people look after it. I never let go of a project entirely - each one is like a family member. But I like to do what I enjoy.”

Way says ideas for projects can arise from anywhere, something which his latest venture aptly demonstrates. Called the OE2 club, it is an exclusive club for high-achieving British professionals who have recently moved, or are about to move, to the US. Way himself crossed the pond a few years ago, and says that the club was directly inspired by his own experiences.

“When I was in Britain, I had an incredible network of people who had a similar outlook on life and enjoyed socialising together,” he says. “When I moved, I found that was missing.” He plans to hold meet-ups in various locations across the US, and is enthusiastic about the different ways members could benefit from knowing each other. “It's good for business but it should be fun too. Asset sharing is something I think would be really good. I’ve already put my yacht up, and hope others will do the same." (I immediately start wondering what I could swap, and promptly conclude this is not a club for the likes of me).

Way hopes, however, that the club will be more than just a social network. He had a hard time squeezing a visa out of US immigration authorities, and says that he is keen to do what he can to make emigrating easier for other businessmen. “At one point I had my visa suspended, which seemed rather counter-intuitive considering that I’d given jobs to American people. So not only will we help people with the paperwork - telling them all the tips and tricks - we’ll also put pressure on the government to introduce a proper entrepreneur’s visa. It seems ridiculous that the most entrepreneurial country in the world doesn’t have one.”

Way certainly isn’t afraid to air his opinions on how governments should adjust their rules to help entrepreneurs. His move to the US was an accident, rather than planned – which might, you would think, go some way to explaining some of his problems getting a visa – but he has quickly realised the country’s business advantages.

“Rather typically, I went for a holiday and ended up starting a company. But I’ve realised that although I love Blighty, in terms of business, the US is a much better place to be. The British Government really needs to pull its finger out with regard to encouraging entrepreneurs. There’s much better access to capital here." Are the, ahem, taxes more agreeable too? “Not to put too fine a point on it, but yes. Our tax system is not only extraordinarily complicated but not favourable in what it gives to entrepreneurs."

For somone so clearly aware of what is “favourable” for business, the OE2 club seems an unusual choice of project to start. “Why?” Well, I say politely, the website says it’s not for profit. Way thinks, then says: “One thing I’ve realised about business is that it’s all about people. What I want to do is give a little bit back.”

That seems very nice, for a hard-nosed businessman. “Losing my money in 2001 changed me a lot,” he says simply. “If you grow up in the media and are very successful, you become very complacent. I don’t think I’d particularly like the person I was before I lost the money if I met them now. I think I was probably quite annoying.”

He's not, however, going to let just anyone join his club; the only people welcomed, according to the website, are “super professionals,” something Way defines when questioned as “people who have put their head out of the crowd in their industries”. So far - due to either a very strict vetting procedure, or the fact it’s only been going three weeks - there are just 40 members, but he says collectively those 40 members are worth $650 million. So does super professional really just mean, well, very rich?

"No. It’s more about potential than crossing the t's and dotting the i's." He pauses, and adds drily: "Put it this way. We're a lot more flexible than the Embassy on who can join.”